Ss Hot Rolled Coils (304) >=3mm in Mumbai

Stainless steel prices remain stable with Nickel unchanged at $16,284/ton and Copper unchanged at $9,310/ton. Meanwhile, Australia’s MinRes is making progress on the Onslow Iron Ore project, aiming for 35 million tons annual capacity. Additionally, Nippon Steel Trading’s new Philippine subsidiary is commencing operations.

Nickel and copper prices are on the rise, with stainless steel seeing stable but slightly increased demand. Meanwhile, India has extended countervailing duties on steel imports from China and Vietnam. In another development, high energy costs prompted Italian manufacturer Acciai Speciali Terni (AST) to shut down one of its furnaces.

Stainless steel products saw price increases today, with Nickel increasing 0.29% and Copper increasing 0.63%. Demand for SS 304 and 316L is on the rise while that of ferritic grades is still low. Notably, India is on track to reach its 300 million tons per year steel production goals.

Nickel and Copper prices dipped today by 0.81% and 0.07% respectively. 304 CR wider 2B is priced at ₹198-201/kg, while SS 316L imported HR material is priced at ₹317-321/kg. Experts suggest that 304 and 316L will see steady demand, while 400 series ferritic grades will struggle.

Stainless steel prices are steady, with nickel down by 0.36% at $16,420/ton and copper up by 0.73% at $9,020/ton. Moreover, retail prices for 304 CR wider 2B are Rs. 198-201/kg, while SS 316L is Rs. 317-321/kg. Demand is improving for 304 and 316L grades. Also, No.4/Matte PVCfinish and 304 narrow sizes are in good demand. Meanwhile, stainless steel futures increased slightly due to expected US interest rate cuts.

Stainless steel prices are stable today, with nickel unchanged at $16,670/ton and copper up 0.28% at $9,209/ton. Retail prices are Rs. 198-201/kg for 304 CR 2B and Rs. 317-321/kg for SS 316L. Demand is improving for 304 and 316L grades, but remains weak for ferritic grades. Markets for 304 and 316L grades are expected to have a medium to good run this week.

LME's Nickel and Copper prices dropped today, while the INR opened at 83.89 against the USD. Stainless steel demand varies, with 304 and 316L grades seeing slight improvement. Ferritic grades remain weak, except in specific applications. Import shortages are driving up demand and prices for certain special finishes in 201 grades.

LME nickel and copper prices closed unchanged. Stainless steel prices varied, with 304 and 316L showing slight increases due to rising demand. India’s stainless steel exports dropped, impacted by Chinese dumping. Analysts predict potential price rises as demand increases in key global markets.

Nickel prices fell 1.4% to $17,655/ton, and copper declined 0.96% to $9,698/ton. Retail prices for stainless steel vary, with 304 CR wider 2B priced at Rs.198-201/kg, and 316L HR wider at Rs.320-324/kg. Demand for 304 & 316L is improving, while ferritic grades remain weak. Acerinox plans to sell its Bahru Stainless facility amid competitive pressures, and Brazil reviews anti-dumping duties on stainless steel imports. TotalEnergies considers entering copper trading as demand rises.